Gold prices may continue to rise next week
The weak USD and the expectation that the Fed will stop raising interest rates will help the gold market maintain its upward momentum, after gaining 0.2% this week.
This weekend's Kitco News survey of bankers, analysts, and traders showed that 53% forecast gold prices to increase next week. 26% expect the market to go down and 21% expect prices to move sideways.
Session 23/6, gold sold off when the US Department of Labor released data showing that the economy added 339,000 new jobs last month, more than analysts had forecast. This information caused the world spot gold price to drop by 30 USD to 1,947 USD.
However, for the whole week, gold still gained 0.2%, ending 3 consecutive weeks of decline.
The weak USD and the expectation that the Fed will stop raising interest rates will help the gold market maintain its upward momentum, after gaining 0.2% this week.
This weekend's Kitco News survey of bankers, analysts, and traders showed that 53% forecast gold prices to increase next week. 26% expect the market to go down and 21% expect prices to move sideways.
Session 23/6, gold sold off when the US Department of Labor released data showing that the economy added 339,000 new jobs last month, more than analysts had forecast. This information caused the world spot gold price to drop by 30 USD to 1,947 USD.
However, for the whole week, gold still gained 0.2%, ending 3 consecutive weeks of decline.
